Tuesday, April 10, 2012

After Adding $4 Trillion to the US National Debt, Still No Recovery

After over 3 years of desperate borrowing, taxing, spending, and over-regulating, the US Obama administration still has nothing of substance to show, in terms of an economic recovery for average voters and workers. Instead, Obama seems to have taken the workforce back to the age of the Jimmy Carter recession aftermath, in terms of worker participation in the job market.

During the most recent recession, the employment-population ratio fell farther than it had during any other recession in the post-World War II era.

If these were normal economic times, it would have been reasonable to expect a huge surge in hiring by now.

But we have not seen that.

Instead, the employment rate in the United States has been remarkably flat for more than two years.

So Barack Obama should not even begin to say anything at all about a "recovery" until the employment rate at least breaks the 59 percent barrier. _EM

As long as the Obama administration uses "emergency stimulus" funds to pay off political cronies, and conducts an all-out war against the US private sector and energy industries, the dismal news will keep coming.

Mr. Obama's ideology is poorly suited for leading a prosperous economy. His radicalism and deep anti-market sentiment fitted him to the profession of corrupt radical community organiser in the slums of Chicago. But as leader of the world's only superpower, Mr. Obama is a clownish and distracted millstone around the nation's neck.